TITLE

Pulled Deals Multiply In High Yield

AUTHOR(S)
Leary, Christopher
PUB. DATE
May 2005
SOURCE
Investment Dealers' Digest;5/30/2005, Vol. 71 Issue 21, p14
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that the high-yield bond market has recently become inhospitable for some lower-rated issuers, as a growing number of prospective sellers are postponing or canceling their deals. About 25 deals have been pulled in the first five months of 2005. Junk market players are divided in their reactions to the increase in yanked deals. Some say the wave of postponements is another sign that the junk markets are in for a tough, spotty year, while others make the case that the deal cancellations were a short-term reaction to the news of the Ford Motor Co./General Motors Corp. downgrades, and that the junk market is already showing signs of settling back down.
ACCESSION #
17200573

 

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